MANILA — Inflation may have climbed to somewhere between 3.1 and 3.9 percent in March, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.
The BSP said higher prices of petroleum, rice, and power may have driven prices upward, along with the fall of the peso.
Lower vegetable, fish, and meat prices, meanwhile, may help keep inflation lower.
Philippine inflation picked up to 2.4 percent in February, driven by higher housing and food prices. Back then, National Statistician Dennis Mapa already said inflation may go higher in the coming months because of the war in the Middle East.
Last week, the Bangko Sentral said it sees inflation averaging 5.1 percent in 2026 due to fuel price shocks stemming from the conflict in the Middle East, where the US and Israel ignited a regional conflict by attacking Iran in late February.
This is higher than earlier projections and also higher than the government target of 2 to 4 percent.
